Walmart, Microsoft and Tiger Global will sell about 50.7 million shares of PhonePe in the Indian payments firm’s initial public offering, a draft prospectus dated Wednesday showed.
PhonePe received regulatory approval for its stock market listing after confidentially filing for an IPO in September.
The company is not issuing new shares in the IPO and will not receive any proceeds.
PhonePe‘s loss widened to Rs 1,444 crore ($157.80 million) from Rs 1,203 crore in the half year ended September 30, while revenue rose about 22% to 39.18 billion rupees, the filing showed.
Kotak Mahindra Capital, Goldman Sachs, JPMorgan, Citi, Morgan Stanley and Jefferies are among the book running lead managers.
Reuters
